{"data":{"id":"us-ak/as-45.14.106","jurisdiction":"us-ak","citation":"AS 45.14.106","heading":"Time payment order is received.","body":"(a) The time of receipt of a payment order or communication canceling or amending a payment order is determined by the rules applicable to receipt of a notice stated in AS 45.01.212. A receiving bank may fix a cut-off time or times on a funds-transfer business day for the receipt and processing of payment orders and communications cancelling or amending payment orders. Different cut-off times may apply to payment orders, cancellations, or amendments, or to different categories of payment orders, cancellations, or amendments. A cut-off time may apply to senders generally, or different cut-off times may apply to different senders or categories of payment orders. If a payment order or communication cancelling or amending a payment order is received after the close of a funds-transfer business day or after the appropriate cut-off time on a funds-transfer business day, the receiving bank may treat the payment order or communication as received at the opening of the next funds-transfer business day.\n(b) If this chapter refers to an execution date or payment date or states a day on which a receiving bank is required to take action, and the date or day does not fall on a funds-transfer business day, the next day that is a funds-transfer business day is treated as the date or day stated, unless the contrary is stated in this chapter.","path":["Title 45. Trade and Commerce.","Chapter 14. Funds Transfers."],"source_url":"https://www.akleg.gov/basis/statutes.asp#45.14.106","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:19:44Z","sha256":"e981d893cdb447d4e3758bbff3bccc143e4b42a6a505de8b35100e381a71af90","source_id":"us-ak","stale":false,"prev":"us-ak/as-45.14.105","next":"us-ak/as-45.14.107"},"notice":"GroundRules: Original legal text. Not legal advice."}